Building permit for the construction of the housing project Vilniaus Džiazas has been obtained
Unique Properties, a real estate development company, has received a permit and started the construction of the Vilniaus Džiazas project in K. Vanagėlio Street in Vilnius Old Town.
K. Vanagėlio str. 11 and 18, which consists of a two-storey apartment building with 62 apartments and 11 commercial premises, a 1200 sqm administrative cultural heritage object of interwar construction and public spaces. The project will feature apartments with 4,5 m high ceilings and 4 m high stained-glass windows, the ground floor will have private patios and access to a garden, while the second and third floors will have balconies and the last floor will have private terraces.
According to Gediminas Tursa, CEO of Unique Properties, Vilniaus Džiazas aims to revitalise a part of the Old Town that was undeservedly forgotten during the Soviet era, and to reconnect it with the Rasa. The complex not only includes an open and lively commercial street along the north-south axis, but also new pedestrian and cycling connections to the railway station.
“After obtaining the building permit, the company received a lot of interest from interested parties and within a couple of weeks it sold several more apartments – currently Vilniaus Džiazas has signed about 20 preliminary contracts for apartments and sold several commercial premises. The price per square metre of apartments in the project varies between EUR 5,000 and EUR 12,000,” says Sandra Grinkienė, Real Estate Project Manager at Ober-Haus.
Financial partners are also showing their confidence in the Vilniaus Džiazas project. “Construction work is being started with our own and interim financing, and agreements are being finalised for further financing, including bank financing. Even against the backdrop of a more moderate housing market, we can feel the strong confidence of buyers and lenders in the exceptional architecture,” says Mr Tursa.
Construction of the entire complex is expected to be completed in the third quarter of 2025. Unique Properties is investing a total of approximately EUR 23 million in the complex.
Vilniaus Džiazas was designed by Do Architects, construction management is being handled by Incorpus, and Sorainen is advising on legal matters. Ober-Haus is taking care of the commercial and marketing aspects.
More about the project www.vilniausdziazas.lt
Latest news
All news
Housing market has woken up, but no faster price growth yet
The Ober-Haus Lithuanian apartment price index (OHBI), which follows changes in apartment sale prices in the five biggest Lithuanian cities (Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys) increased by 0.4% in February 2025. The annual apartment price growth in the biggest cities of Lithuania was 4.1% (a 4.0% increase was recorded in January 2025). In February 2025 apartment prices in Vilnius, Kaunas, Klaipėda, Šiauliai and Panevėžys increased by 0.3%, 0.1%, 0.8%, 0.8% and 0.9%, respectively, with the average price per square meter reaching EUR 2,670 (+7 EUR/sqm), EUR 1,822 (+2 EUR/sqm), EUR 1,754 (+13 EUR/sqm), EUR 1,168 (+10 EUR/sqm) and EUR 1,147 (+10 EUR/sqm). In the past 12 months, the prices of apartments increased in all the biggest cities in the country: 3.2% in Vilnius, 4.1% in Kaunas, 6.2% in Klaipėda, 6.6% in Šiauliai and 6.7% in Panevėžys. ‘As predicted, a rapid annual growth in the number of housing transactions is recorded at the beginning of 2025. According to the data of the State Enterprise Centre of Registers, 40% more apartments were purchased in the country in January this year and 39% more in February this year than in the same month in 2024. It should be noted that in the…
In 2024, Lithuanian investment transactions market slumped by 43%
The general sentiment in the Lithuanian commercial property market in 2024 is well reflected in the volume of investments, which has declined to the levels last seen in 2014. According to the data of Ober-Haus, in 2024, the value of modern cash-flow commercial property (modern office, retail and industrial objects with the value of at least EUR 1.5 million) acquired amounted to EUR 230 million. This means that the annual volume of investments declined by 43% compared to 2023 or 2022. ‘In 2024, only small and medium-sized transactions were recorded in Lithuania, whereas there had been no acquisitions of larger transactions at all. For the first time after a lengthy period, the value of the largest deal did not exceed EUR 30 million‘, said Raimondas Reginis, head of market research for the Baltics at Ober-Haus. According to Ober-Haus, deals up to EUR 10 million in value represented 40% of total investments in Lithuania, whereas deals valued at EUR 10–30 million – the rest (60%). Retail properties attracted the largest share of investments, with investors primarily focusing on supermarkets The largest portion of investments befell to retail properties with EUR 134 million or 58% of all investments in commercial property in Lithuania spent for acquisitions.…
Ober-Haus completes the sale of “Beržų namai” project
A. Juozapavičiaus Street, Kaunas, the last apartment in the project "Beržų namai" was sold, the concept of which was developed and successfully realised by Ober-Haus. All the apartments have already been occupied, and the completion of the project has become a significant event in the rapidly modernising Žemieji Šančiai district. Two apartment buildings have been designed on a plot of almost 0.43 hectares, with 72 two- to three-room apartments of 45-63 square metres. The project includes 41 underground and 32 above-ground parking spaces, bicycle storage and storage rooms, and a private courtyard. "From the very beginning of the sale, we have felt great interest from buyers - the reason for this is both its exceptional location and the lack of quality housing in Kaunas," says Svajūnas Šarauskas, Manager of the Kaunas office of Ober-Haus. The houses were built in the growing and rapidly changing Žemieji Šančiai district, in a quiet and green part of A. Juozapavičiaus Avenue. "Beržų namai has contributed to the development of the area by landscaping the environment, greening and fencing the yard, and installing a children's playground. "Beržų namai has not only added to the landscape of the modernising district, but has also encouraged the…
All news